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WASHINGTON -- Moving against tax avoidance by corporations, the Obama administration took several actions on Monday to curb “inversion” deals that allow companies to escape high U.S. taxes by reincorporating abroad. The Treasury Department announced new rules, effective immediately, that will reduce the tax benefits available to companies that have inverted, while also making new inversions more difficult to do and less potentially rewarding. Because they took effect on Monday, the new rules might raise issues for some of a handful of companies that have agreed to do inversions, but have not yet completed them. Fast-food chain Burger King Worldwide Inc is in the midst of...

Related "U.S. Department of the Treasury" Articles

WASHINGTON -- Moving against tax avoidance by corporations, the Obama administration took several actions on Monday to curb “inversion” deals that allow companies to escape high U.S. taxes by reincorporating abroad.
The Treasury Department announced...

A fooled clerk and his money are soon parted.Wonder how the clerk explained this con to his boss?
A man told a liquor store clerk he needed a photo of a new $50 bill to settle a dispute, WWSB ABC News-7 in Sarasota.
When the clerk held up the note,...

President Obama swooped into South Florida for a couple of hours on Friday to tout a tunnel project at PortMiami as a great example of how to rebuild the nation’s infrastructure, create jobs and boost the economy.
Port officials from around the state...

U.S. Sen. Bill Nelson (D-FL) is pushing for passage of his bill to toughen criminal penalties for thieves who steal identities to file for fake federal income tax refunds in light of two reports that showed Thursday the government potentially paid $3.6...

U.S. Rep. Debbie Wasserman Schultz of Weston said Tuesday she’d like to know more about the recent Cuba visit by mega-entertainers Beyoncé and Jay-Z.
Wasserman Schultz is chairwoman of the Democratic National Committee and the entertainment couple...

Rapper and entertainment industry mogul Jay-Z responded Thursday with a forceful rejection of the criticism he’s received from South Florida politicians over his visit to Cuba last week with his wife Beyoncé.
And the couple received support from a...

U.S. Rep. Mario Diaz-Balart, a Miami Republican who represents part of South Broward, says he's "outraged by the vague response" from President Barack Obama's Treasury Department to the concerns he raised over "the apparent tourist...

A federal judge dismissed a Cuban lawsuit Monday over the termination of U.S. trademark rights for its Havana Club rum, a victory for Bacardi's effort to take over the brand name as its own in the United States.
The dispute dates back decades and is...

On the last Friday in March, President Barack Obama summoned leaders of the banking industry to the White House, where they gathered around a mahogany table in the State Dining Room, site of many a feast. On this day there was not a piece of fruit nor can...

The Treasury Department reported Tuesday that the overwhelming majority of struggling homeowners who qualify for a change in their mortgage loans to avoid foreclosure aren't getting a new deal from their loan servicers, despite growing federal pressure....

AbbVie said late Monday that it was officially scrapping its $55 billion merger with Dublin, Ireland-based rival Shire, and that it will increase its quarterly dividend and buy back up to $5 billion in stock over the next several years.
New U.S. tax...

Illinois drugmaker AbbVie Inc. said it would reconsider the planned purchase of European rival Shire after the Obama administration recently changed U.S. tax laws to make it less financially appealing for companies to restructure abroad.
The...

WASHINGTON - When Secret Service officer Timothy McCarthy took a bullet to protect Ronald Reagan in a 1981 assassination attempt and agent Jerry Parr shoved the president into a limousine, their quick reflexes projected a Hollywood-style image of...

Salix Pharmaceuticals called off its merger with a foreign drug maker Friday, citing the political backlash against tax inversion deals.
The deals—in which a company reincorporates abroad to gain lower taxes—drew fire this summer after several...

AbbVie Inc. and Shire agreed to terminate what would have been the biggest U.S. tax inversion after AbbVie pulled its support for the deal in the wake of proposed changes to U.S. rules governing the transactions.
North Chicago, Ill.-based AbbVie...

Federal employees will be allowed to carry money on their health savings accounts into the next year following a months-long lobbying effort by Sen. Ben Cardin of Maryland and other lawmakers in the region.
Some 323,000 federal workers set aside a...

The case for recess
How sad that some elementary-school principals find no value in recess for young students. For centuries, the notion that a healthy body is necessary for a healthy mind has been accepted by most educated people.
The ancient Greeks...

The nation's transportation system is broken, agreed a panel of transportation wonks gathered in downtown Baltimore on Thursday, but they could not agree on how to fix it.
"Transportation is broken. There's no way to fund it. America is one big...

Despite growing criticism from lawmakers in Washington, a Deerfield drugmaker on Friday officially planted its corporate flag in Ireland, a move designed in part to lower its tax bill.
Horizon Pharma completed its $587 million acquisition of the Irish...